Logistics

ElasticRun seals $40m funding in last-mile logistics push

Indian startup secures financial commitment from South Africa's Naspers – well-known as an early investor in Chinese tech giant Tencent.

Indian logistics startup ElasticRun has secured $40 million in its Series C round of funding from Prosus Ventures, the venture arm of South African internet and media group Naspers. 

Existing investors Avataar Ventures and Kalaari Capital also participated in the round, the firm said in a statement.

The fundraising has grabbed the attention of the global investment community because Naspers has a track record of identifying early-stage startups. It is best-known as an investor in Tencent when the Chinese tech giant was a little-known startup in 2001.

Naspers remains the largest shareholder of Tencent, Asia’s largest company by market capitalisation.

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